UAE’s OPEC Exit: Pragmatic Oil Policy, Not ‘Stranded Assets’ Panic

The United Arab Emirates’ announcement on Tuesday that it will leave OPEC and OPEC+ effective May 1st sent shockwaves through the energy world. As the cartel’s third-largest oil producer, with a production capacity approaching five million barrels per day and ambitions to push higher, the UAE was no peripheral player. Abu Dhabi joined OPEC back in 1967 …